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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Adsorbent Market size was valued at US$ 4.2 billion in 2022 and is poised to grow at a CAGR of 6% from 2024-2030. Key drivers for the market growth include growing environmental concerns, demand from various end user industries, extensive use of adsorbent in petrochemical industry, excellent chemical & physical properties of adsorbents, strong demand from water treatment and technological advancements. However, fluctuating raw material prices and its availability are restricting the adsorbent market growth. The molecular sieves adsorbents have pores of precise sizes that can block molecules which makes them ideal for use in the petrochemical, drying and air separation applications.
Hence, increasing requirement of adsorbents for petroleum refining will be one of the major factors driving the adsorbents market growth. Global adsorbent market is surging owing to frequent acquisitions and launchings by the market players. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
6%Largest Market
Asia PacificFastest Growing Market
North America
Adsorbents are widely used in the petrochemical industry to remove trace contaminants such as water and sulfur in the feed, intermediate and product streams. Using the right adsorbent is critical due to the reactivity of ethylene plant streams. The removal of undesirable impurities in modern industrial processes is critical to assure the protection of the environment, to protect downstream catalysts, and to avoid costly unplanned shutdowns. The use of dedicated adsorbents helps operators to achieve specifications for improving their operations, upgrading the quality of their products or minimizing pollution.
Asia Pacific accounted for larger revenue share in global adsorbent market with considerable CAGR. The growth in this region can be attributed to existence of some of the world leading petrochemical manufacturing industries and chemical in APAC. Growing vehicle population in the region is the other factor responsible for the market growth. China is the major contributor for the growth of the market in this region. Also, North America held significant market share during estimated period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 4.2 billion |
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Market CAGR |
6% |
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By Type |
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By Application |
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By Region |
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The adsorbent market is projected to expand at a CAGR of 6% during the forecast period.
Arkema S.A, Axens S.A, BASF SE, Cabot Corporation, Calgon Carbon Corporation
Asia-Pacific is the fastest-growing region for the adsorbent market
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.